Buildium has all the tools for a complete accounting solution including a general ledger, reporting system and more. With a user-friendly interface and a 15-day free trial, it’s easy to make Buildium part of your company.

Buildium has all the tools for a complete accounting solution including a general ledger, reporting system and more. With a user-friendly interface and a 15-day free trial, it’s easy to make Buildium part of your company.

SimplifyEm is a property management software designed to meet the requirements of small and mid-sized landlords and property managers. The web-based solution offers features like property accounting, tenant management, lease tracking,...
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SimplifyEm is a property management software designed to meet the requirements of small and mid-sized landlords and property managers. The web-based solution offers features like property accounting, tenant management, lease tracking,...
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Rentec Direct serves as a web-based, full-featured management system for landlords and property managers that is designed to suit the needs of those managing properties between 25 and 5,000 units. Rentec has no startup fees, no term...
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Rentec Direct serves as a web-based, full-featured management system for landlords and property managers that is designed to suit the needs of those managing properties between 25 and 5,000 units. Rentec has no startup fees, no term...
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Hemlane is a cloud-based property management solution that caters to small businesses. The key features of the solution include property marketing, applicant screening, lease tracking, rent collection and maintenance coordination.
Hemlane...
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Hemlane is a cloud-based property management solution that caters to small businesses. The key features of the solution include property marketing, applicant screening, lease tracking, rent collection and maintenance coordination.
Hemlane...
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SiteLink offers self-storage solutions for operators of all sizes across the globe. The solution is available through a cloud-based or on-premise deployment, and is Mac, iPad and PC compatible. An additional service, SiteLink Merchant...
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SiteLink offers self-storage solutions for operators of all sizes across the globe. The solution is available through a cloud-based or on-premise deployment, and is Mac, iPad and PC compatible. An additional service, SiteLink Merchant...
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PropertyVista is a cloud-based property management solution that helps real estate and property management firms to track functions related to their properties which include advertising rental properties, gaining new tenants, collecting...
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PropertyVista is a cloud-based property management solution that helps real estate and property management firms to track functions related to their properties which include advertising rental properties, gaining new tenants, collecting...
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With 40 years experience, MRI Property Management Accounting Software scales quickly for firms large and small with properties worldwide. This highly-customizable system offers automated calculations, billing, reporting and more.

With 40 years experience, MRI Property Management Accounting Software scales quickly for firms large and small with properties worldwide. This highly-customizable system offers automated calculations, billing, reporting and more.

Budgetrac is a cloud-based, comprehensive property management and accounting solution suitable for commercial properties such as industrial, office and retail.
Budgetrac shares real-time information across organizations through role-based...
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Budgetrac is a cloud-based, comprehensive property management and accounting solution suitable for commercial properties such as industrial, office and retail.
Budgetrac shares real-time information across organizations through role-based...
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While Property Boulevard’s main focus is overall property management, the system provides a module that’s designated solely for accounting functions. The system has a great database feature, keeping records of all communicatio

While Property Boulevard’s main focus is overall property management, the system provides a module that’s designated solely for accounting functions. The system has a great database feature, keeping records of all communicatio

iRent is a cloud-based property management solution for small and midsize property managers. Key features include tenant management, billing and financial management, role-based system access and work order management.
iRent includes...
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iRent is a cloud-based property management solution for small and midsize property managers. Key features include tenant management, billing and financial management, role-based system access and work order management.
iRent includes...
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Condo Manager puts a heavy focus on accounting needs for property managers. The system provides features like check scanners, lockbox capabilities with support for as many bank accounts as needed & customized financial statements.

Condo Manager puts a heavy focus on accounting needs for property managers. The system provides features like check scanners, lockbox capabilities with support for as many bank accounts as needed & customized financial statements.

ResMan is a cloud-based property management suite best suited for large and midsize companies in the multi-family industry. Key features include rent, leasing and budget management, portfolio management and lead management.
The ResMan...
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ResMan is a cloud-based property management suite best suited for large and midsize companies in the multi-family industry. Key features include rent, leasing and budget management, portfolio management and lead management.
The ResMan...
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PayProp is a cloud-based property management solution designed to help property managers to collect, match and reconcile rental payments for their properties. Key features include payment automation, audit logging, arrears management...
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PayProp is a cloud-based property management solution designed to help property managers to collect, match and reconcile rental payments for their properties. Key features include payment automation, audit logging, arrears management...
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Buyer's Guide

Property management accounting software offers a number of features that typical accounting systems do not. In addition to financial reporting and payroll, these programs will integrate industry-specific information about vacancies, units, tenants and property maintenance into the real estate software.

The more robust accounting tools also manage company information related to property listings, track referrals and link electronic documents to sales.

This guide was created to help property managers determine the best software to meet their needs. We’ll cover the following topics:

Common Features of Property Management Accounting Software

Track rents & payments

This software will categorize receipts based on the specific real estate category, such as rents, utilities, subleases or late fees. The software also calculates real estate taxes, property insurance, maintenance costs and payroll, and all of this information ties directly to the tenant or property record.

Online payment portal

Some property accounting systems include an online portal for tenants to pay rent. This simplifies the payment process, as renters can pay online 24/7 using credit or debit cards. This feature is more common in full property management suites.

Bank reconciliation

Many systems offer bank reconciliation assistance to ensure the figures match in both your’s and the bank’s accounts. Users can download bank statements to identify and correct discrepancies.

Reporting

Accounting systems typically offer a variety of report and chart types to view income and expense data by month or year. These reports can be automatically generated at certain dates and shared with specific people.

Business growth & development

Automatically calculate annual rent increases, property appreciation and depreciation, as well as manage the growth of your assets. Many of these programs also have built-in budgeting and forecasting capabilities and the ability to analyze rents based on current market rates.

Common area management

Most solutions calculate charges and costs associated with common areas, tracking maintenance, policies and usage as desired.

Benefits of Property Management Accounting Software

The automation of accounting processes is an obvious benefit of property accounting software, and others increase convenience in common tasks.

Get paid faster. With an online payment portal, you don’t have to wait for mailed checks to arrive. Tenants can pay rent online anytime, with cards or cash, which goes directly into your account.

Calculate rent increases easier. Software can help analyze local housing market conditions to calculate how much you can charge for rent while staying competitive.

Stay on top of your accounting from anywhere. Most of the top property management software vendors offer a native mobile app or the ability to access the system through a mobile web browser. Even when traveling, you can view incoming payments or reports.

Deployment Options

Software can be implemented in various ways, but two options are most common today:

On-premise. An on-premise accounting system would be installed locally on the computer you use at your office. This type of deployment keeps your accounting data close-at-hand. These deployments typically require a larger upfront cost.

Cloud-based. Alternatively, a cloud-based system is installed on the software vendor’s servers and delivered to you via the Internet. This can be a more secure option, as your accounting data is saved “in the cloud” and won’t be lost should your local computer be destroyed or lost. Additionally, a cloud-based deployment is often a cheaper investment upfront, with fewer hardware requirements and a monthly subscription fee.

What Type of Buyer Are You?

Portfolios can vary greatly from one property manager to the next. Software vendors know this and offer a range of features that can often be mixed and matched to meet a manager’s requirements.

Managers with a single, small apartment complex. For those who oversee a small apartment complex, basic accounting features, such as general ledgers for rent payments and expenses, should be enough functionality to handle your needs. Additional features can be added to increase convenience.

Managers with a large complex or mixed real estate portfolio. Maybe you manage a few apartment complexes, or you have a mixed portfolio, with hundreds of tenants to track. These managers can gain greater benefits from software by opting for more functionality, such as advanced reporting, budgeting and forecasting. An online portal can also greatly reduce the stress of collecting rent each month.

Business Trends to be Aware of

The property management industry is always subject to new government regulations, renter behavior trends and the ever-changing real estate and housing markets. Here are some events that impact property managers:

Rent growth is strong despite increase in supply. The U.S. housing supply in 2016 isn’t able to meet demand, leading to high rent growth. Cities with booming rents include Austin, Seattle and Nashville. Some experts say these markets are tough to enter as developers are aggressively building new properties, but apartment managers in these locations have the opportunity to increase rates.

Are we due for another economic recession? U.S. economic indicators in mid-2016 are showing patterns that could lead to another recession within 12 months, according to J.P. Morgan economist estimates. This suggests that property managers should be conservative about plans for growth or expansion and more critical of applicant’s financial stability.

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